SouthState (SouthState) Credit Losses Provision : $114 Mil (As of Dec. 2023)

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What is SouthState Credit Losses Provision?

SouthState's credit losses provision for the three months ended in Dec. 2023 was $10 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $114 Mil.

SouthState's quarterly credit losses provision declined from Jun. 2023 ($38 Mil) to Sep. 2023 ($33 Mil) and declined from Sep. 2023 ($33 Mil) to Dec. 2023 ($10 Mil).

SouthState's annual credit losses provision increased from Dec. 2021 ($-165 Mil) to Dec. 2022 ($82 Mil) and increased from Dec. 2022 ($82 Mil) to Dec. 2023 ($114 Mil).

SouthState Credit Losses Provision Historical Data

The historical data trend for SouthState's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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SouthState Credit Losses Provision Chart

SouthState Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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12.78

235.99

-165.27

81.86

114.08

SouthState Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															47.14	33.09	38.39	32.71	9.89

SouthState Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $114 Mil.

SouthState (SouthState) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » SouthState Corp (NYSE:SSB) » Definitions » Credit Losses Provision

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Traded in Other Exchanges

FJ5:Germany

Address

1101 First Street South, Suite 202, Winter Haven, FL, USA, 33880

Website

https://www.southstatebank.com

SouthState Corp is a United States-based bank holding company. It provides a wide range of banking services and products to its customers through a wholly-owned bank subsidiary, South State Bank. The Bank provides retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans through financial centers in Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. These services include demand, time and savings deposits, lending and credit card servicing, ATM processing, and wealth management and trust services.

Executives

Greg A Lapointe	officer: President of SSB	520 GERVAIS STREET, COLUMBIA SC 29201
Page G Ruffner Jr	director
Douglas Lloyd Williams	officer: President, Atlanta Banking Grp	3280 PEACHTREE ROAD NE, SUITE 1600, ATLANTA GA 30305
John C Pollok	officer: Executive Vice President	C/O SCBT FINANCIAL CORPORATION, 520 GERVAIS STREET, COLUMBIA SC 29201
Hill Robert R Jr	officer: President & CEO	C/O SCBT FINANCIAL CORPORATION, 520 GERVAIS STREET, COLUMBIA SC 29201
Robert R Horger	director, officer: Chairman	C/O SCBT FINANCIAL CORPORATION, 520 GERVAIS STREET, COLUMBIA SC 29201
Renee R Brooks	officer: CHIEF ADMINISTRATIVE OFFICER	C/O SCBT FINANCIAL CORPORATION, 520 GERVAIS STREET, COLUMBIA SC 29201
Ronald M. Cofield	director	1101 FIRST STREET SOUTH, WINTER HAVEN FL 33880
Shantella E. Cooper	director	241 RALPH MCGILL BLVD., NW, ATLANTA GA 30308
Douglas J. Hertz	director	3280 PEACHTREE ROAD NE, SUITE 1600, ATLANTA GA 30305
Ernest S Pinner	director
Matthews William E V	officer: Chief Financial Officer
John C Corbett	director, officer: CEO	1101 FIRST STREET SOUTH, SUITE 202, WINTER HAVEN FL 33880
Stephen Dean Young	officer: Chief Strategy Officer	42745 U.S. HIGWAY 27, DAVENPORT FL 33837
David G Salyers	director	1101 FIRST STREET SOUTH, SUITE 202, WINTER HAVEN FL 33880